The SEC's chief accountant requested the assistance of the Financial Accounting Standards Board to help address issues arising from the growth of Internet businesses. Lynn E. Turner stressed that the issues "warrant consideration" by FASB's Emergency Issues Task Force or another standard-setting body. Some issues stem from the use of new business models, while others exist in businesses with no Internet operations.
January 07, 2000 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
The Securities and Exchange Commission’s chief accountant, in a letter released Dec. 23, requested the assistance of the Financial Accounting Standards Board to help address a prioritized list of issues that have arisen from the growth of Internet businesses.
In his letter dated Oct. 18, 1999, Lynn E. Turner stressed that the issues “warrant consideration” by FASB’s Emergency Issues Task Force or another standard-setting body.
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